Sunderland's Championship rivals Leeds United have '£190m' problem after play-off failure

Sunderland’s Championship rivals will have to settle their outstanding historic transfer fees before they can buy players.

That’s according to football finance expert Kieran Maguire, who revealed a black hole in the Whites’ finances following Sunday’s play-off drama.

Leeds United will remain in the Championship after falling to a 1-0 defeat in Sunday’s Wembley play-off final against Southampton. The Saints went ahead in the 24th minute through Adam Armstrong, who was played in by Will Smallbone. It proved to be the only goal of the game.

Speaking last April, Maguire said of Leeds United's financial situation: “Leeds owe other clubs a Jesus, Mary, Joseph and the wee donkey £190m in transfer fee instalments on player purchases but only due to receive £2m on player sales.”

Following the play-off final, Magure added: “Outstanding transfer fee creditors of £190m mean that Leeds will have to pay for old player acquisitions before they can spend this summer.”

However, Maguire has also stated that he doesn’t believe Leeds United will face a crisis as the club’s owners - 49ers Enterprises - will likely provide an injection of cash into the club. Maguire also says that the issue is one of cash flow and will not impact PSR or FFP.

Leeds United submitted their accounts in April for the 2022-23 season with the Whites’ total revenue clocking in at £190million. Leeds’ wage bill for their playing staff, though, was a whopping £146million. The Championship club also spent £9.5million on manager pay-offs during that period. Leeds also posted an operating loss of £106million. The club recouped £86million in player sales during 22-23.